XML 29 R16.htm IDEA: XBRL DOCUMENT
v3.4.0.3

Short-Term and Long-Term Debt | 3 Months Ended
--- | ---
Mar. 31, 2016
Debt Disclosure [Abstract] |
Short-Term and Long-Term Debt [Text Block] | SHORT-TERM AND LONG-TERM DEBT
March 31, 2016 | Principal |  |  | Unamortized Debt Issuance Costs |  | Total |
Millions |  |  |  |  |
Short-Term Debt (a) |  | $16.1 |  |  | $(0.6) |  |  | $15.5 |
Long-Term Debt | 1,563.0 |  |  | (11.7) |  | 1,551.3 |
Total Debt |  | $1,579.1 |  |  | $(12.3) |  |  | $1,566.8 |
(a) | Consisted of long-term debt due within one year and notes payable.
December 31, 2015 | Principal |  |  | Unamortized Debt Issuance Costs |  | Total |
Millions |  |  |  |  |
Short-Term Debt (a) |  | $37.9 |  |  | $(0.6) |  |  | $37.3 |
Long-Term Debt | 1,568.7 |  |  | (12.0) |  | 1,556.7 |
Total Debt |  | $1,606.6 |  |  | $(12.6) |  |  | $1,594.0 |
(a) | Consisted of long-term debt due within one year and notes payable.
No long-term debt was issued in the first three months of 2016. Financial Covenants. Our long-term debt arrangements contain customary covenants. In addition, our lines of credit and letters of credit supporting certain long-term debt arrangements contain financial covenants. Our compliance with financial covenants is not dependent on debt ratings. The most restrictive financial covenant requires ALLETE to maintain a ratio of indebtedness to total capitalization (as the amounts are calculated in accordance with the respective long-term debt arrangements) of less than or equal to 0.65 to 1.00, measured quarterly. As of March 31, 2016, our ratio was approximately 0.46 to 1.00. Failure to meet this covenant would give rise to an event of default if not cured after notice from the lender, in which event ALLETE may need to pursue alternative sources of funding. Some of ALLETE’s debt arrangements contain “cross-default” provisions that would result in an event of default if there is a failure under other financing arrangements to meet payment terms or to observe other covenants that would result in an acceleration of payments due. As of March 31, 2016, ALLETE was in compliance with its financial covenants.

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration